Its Friday!

Instagram Begins NFTs Trials in Africa🌍

Users in Africa will now be able to connect their Instagram accounts to a crypto wallet and add an NFT collection to the social media service.

Supported chains:
* Ethereum $ETH
* Polygon $MATIC
* Flow $FLOW

https://bitcoinke.io/2022/08/instagram-begins-nfts-trials-in-africa/

EFCC Nigeria 🇳🇬 Raids FX Offices Amidst Dollar Crunch and a Destabilizing Naira

The anti- graft agency is working on intelligence that some forces with massive Naira inflow are busy buying US Dollar to either hoard or smuggle out of Nigeria

https://bitcoinke.io/2022/08/efcc-raids-fx-offices-amidst-a-destabilizing-naira/

Tanzania🇹🇿 Inflation Rate Hits 4.4% in June 2022 – One of the Lowest in Africa

Tanzanian inflation data stands as follows:

* March 2022 (3.6%)
* April 2022 (3.8%)
* May 2022 (4%)
* June 2022 (4.4%)

Learn why the Tanzanian inflation rate is one of the lowest in Africa below:

https://bitcoinke.io/2022/08/inflation-in-tanzania/

BitDAO, the leading DAO in the world, Votes to Fund AfricaDAO with $20 Million to Accelerate Web3 Adoption in Africa

BitDAO was formed in 2021, and aims to promote the growth of decentralized finance (DeFi). The DAO has so far raised $230 million from high-profile investors such as Peter Thiel.

AfricaDAO’s proposal highlighted 3 main areas of focus for the fund:

* Funding rounds for Africa companies

* Investments in Web3 talents across Africa

* Supporting Web3-based educational initiatives

AfricaDAO has also drawn soft support and commitments from Polygon and Synthetix among others.

See full details here:
https://bitcoinke.io/2022/08/bitdao-votes-to-fund-africadao/

[WATCH] ‘We are Positioning Zambia🇿🇲 as a Destination with Progressive Regulatory Frameworks,’ Says CEO, BongoHive

BongoHive is a 10-year old technology and innovation hub in Zambia spearheading the adoption of various technologies in Zambia, including blockchain.

"We’re open for business and for many startups to come here.” - Lukonga, Founder / CEO, BongoHive

In this interview, the CEO of BongoHive discusses:

* How is the fintech space in Zambia compared to Nigeria, Kenya, South Africa?
* How supportive is the government of tech innovations?
* What is the state of blockchain adoption in Zambia?

. . . . among others.

Watch this exclusive and enlightening interview here:

https://bitcoinke.io/2022/08/a-chat-with-bongohive-zambia/

Crypto Startups Raised Almost $36 Billion in H1 2022 – 30% of Web3 and Gaming NFTs Show ‘Signs of Maturity’

* In Q2 2022, NFT projects building outside of Ethereum raised more than NFT projects on Ethereum by $1.8 billion

* 71% of DAO (Decentralized Autonomous Organization) projects that raised were in the seed stage

* 30% of Web3 projects that raised were in Series A rounds demonstrating that Web3 projects have ‘started to mature’

See full details here:
https://bitcoinke.io/2022/08/h1-2022-crypto-funding-statistics/

Tesla🏎 Dumps 75% of its #Bitcoin Holdings Only One Year After Purchase

Tesla has not confirmed the selling price. However, based on the historical prices, Tesla sold its stock for anywhere between $19,000 and $46,000 per bitcoin with only $218 million left in their wallets

https://bitcoinke.io/2022/08/tesla-dumps-bitcoin-holding/

MILESTONE:

Open Interest in Ether Options Hits All-Time High – Overtakes BTC Interest for First Time in History

The current open interest in Ether options is at an all-time high of $8.1 billion against BTC options open interest currently at $5.5 billion.

See details of this milestone here:

https://bitcoinke.io/2022/08/eth-overtakes-btc-in-open-interest/

Fintech Penetration at Only 35% in Nigeria🇳🇬 with 9 Out of 10 Transactions Still Settled in Cash

The 2022 GSM State of Industry Report on Mobile Money revealed a lack of relevance as a key barrier to having a mobile money account in Nigeria.

See full details here:

https://bitcoinke.io/2022/08/fintech-penetration-at-only-35-percent-in-nigeria/

Central Bank of Nigeria🇳🇬 to Support 10 Startups to Help Grow eNaira Adoption

The hackathon, themed ‘eNaira – Africa’s Gateway to a Digital Economy,’ is aimed at developing innovative solutions to drive improved adoption of the eNaira

https://bitcoinke.io/2022/08/central-bank-of-nigeria-to-support-10-enaira-startups/

69% of Total Crypto Stolen in 2022 So Far ($2 Billion) is Via Cross-Chain Bridges

A summary breakdown of key cross-chain hacks so far in 2022:

* February – $320 million (Wormhole)
* April – $622 million (Ronin)
* August – $200 million (Nomad)

https://bitcoinke.io/2022/08/69-of-total-crypto-stolen-in-2022-so-far-2-billion-is-via-cross-chain-bridges/

Cross-Chain Bridges Account for Over $1 Billion in H1 2022 – BSC Leads in Security Incidents

* May & June 2022 had the highest No. of incidents

* 92% caused by projects design defects, contract vulnerabilities

* 53% via Cross-chain bridges
*
*

See the report synopsis below:

https://bitcoinke.io/2022/08/over-1-billion-dollar-loss-in-h1-2022-via-cross-chain-bridges/

Incentivized Rwandan🇷🇼 Migrants Send Over $7.5 Million to a Local Bank in 4 Months

According to the World bank, diaspora remittances to Rwanda hit $246 million in 2021 compared to $45 billion in remittances across the continent

https://bitcoinke.io/2022/08/rwandan-migrants-send-over-7-million-dollars/

#Web3 Ladies🇳🇬 Partners with Polygon to Onboard Over 100K African Women onto Blockchain

Web3 Ladies has over 13,000 members as part of its community, and these ladies are coming from several countries across the continent.

https://bitcoinke.io/2022/08/web3-ladies-partners-with-polygon/

[MILESTONE] Nigeria🇳🇬 Broadband Subscriptions Double in 5 Years – Currently at 44.5%

* Broadband internet subscriptions doubled in 5 years

* January 2017 - 41.4 million subscriptions (21.7%)

* June 2022 - 84.6 million subscriptions (44.5%)

https://bitcoinke.io/2022/08/nigeria-broadband-subscribers-grow-to-over-44-percent/

Africa Accounts for Less Than 1% of Global Crypto Spot and Derivatives Trading, Says Latest Report

According to the report, South Africa is the largest market which can be seen by its ‘more advanced financial infrastructure and fiat-to-crypto payment rail.’

After South Africa, Nigeria is the second largest market.

3 factors from the report that were highlighted to drive the overall growth of crypto in Africa include:

* Increased institutional participation

* Rise of Web3

* Emerging markets use cases

https://bitcoinke.io/2022/08/1-percent-of-global-crypto-trading-in-africa/

$ETH Staking Hits All Time High Ahead of Merge

The amount of $ETH staked on DeFi protocols is over 13.2 million $ETH staked, which is an all time high, as investors anticipate upside from the upcoming merge.

https://bitcoinke.io/2022/08/eth-staking-hits-all-time-high-ahead-of-merge/

LATEST!

Nigeria Interbank Settlement System (NIBSS) is Now Available on the eNaira Platform, Says the Central Bank of Nigeria 🇳🇬

The integration with Nigeria's payments backbone, NIBBS Instant Payments (NIP) means users can now transfer funds from their eNaira wallet to any bank account of their choice in Nigeria.

https://bitcoinke.io/2022/08/nigeria-interbank-settlement-system-available-on-the-enaira-platform/